One trading strategy is enough. - page 3.

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Quote from: Miles2006 on October 01, 2024, 05:02:21 PM

Op is actually right, excess knowledge can be so confusing and complicated for newly traders and what’s more complicated is how newbie traders move from different online class seeking for knowledge. I noticed this when I discovered different YouTube videos about crypto investing and trade in general, no knowledge is wasted at same time it must not be jam-packed at once. Anxiety can cause all this for example, the fear of not winning meanwhile they forget the story of successful traders. They once failed and continue trading not minding the end result, if only a single strategy is okay I still think they can be two or more good strategy when trading but, how and when to apply matters a lot.

On the one hand, having a lot of knowledge as a beginner will certainly confuse them in applying the knowledge they have when going to trade and also true as you said, maybe one day we will need this knowledge when we find a situation that is different from the strategy we are using in trading, this anxiety is indeed a natural thing experienced by anyone who is just starting to trade, therefore it is good when starting Try it with little capital so that you don't have anxiety when trading and those who have been successful in trading certainly have had that anxiety when they first tried it but each person of course has a different way of overcoming this anxiety until they become successful in trading, I agree with you by mastering many strategies, of course this will be very beneficial for us in trading, but we must also understand well the right time to use strategies according to the market conditions we are facing.

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Op is actually right, excess knowledge can be so confusing and complicated for newly traders and what’s more complicated is how newbie traders move from different online class seeking for knowledge. I noticed this when I discovered different YouTube videos about crypto investing and trade in general, no knowledge is wasted at same time it must not be jam-packed at once. Anxiety can cause all this for example, the fear of not winning meanwhile they forget the story of successful traders. They once failed and continue trading not minding the end result, if only a single strategy is okay I still think they can be two or more good strategy when trading but, how and when to apply matters a lot.

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Quote from: Antonil on September 29, 2024, 11:21:37 AM

"Your observations are really valuable. Consistency and focus on strategy is vital to a trader's success. It's very common for new traders to get confused by multiple strategies, so it's wise to stick with a specific strategy that will work over time. Thanks for sharing your thoughts!

You are wrong about this, I see multiple strategies as a solid foundation for new traders. It is not a matter of using all the ones they know at once but continuing to learn as many strategies as possible so that they will have a richer knowledge about trading strategies. They can then proceed to refine them and choose the best one over time. What trader would they be if they were so unified to a single strategy? I can't just imagine that.

My trading experience taught me that a trader can never use a single strategy unless the trader is deceiving himself. The market is dynamic, you need to know its true behaviour, but one single strategy will not be able to know this because of its dynamism. You can't tell me what a trend strategy would do is what a support/resistance strategy would do. What about the price action? The overall pattern of the market? We need different strategies for these, the market psychology is cryptic, let's stop deceiving ourselves.

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Quote from: Rruchi man on July 28, 2024, 06:36:04 PM

...One trading strategy is enough to make you successful until it is no longer working.

Having only one trading strategy, you will realize at some point that it is not so effective or has stopped working altogether. As a rule, an experienced trader uses several trading strategies when making a decision, which brings a more predictable result and differs in this from beginners who use only one trading strategy.

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Quote from: passwordnow on September 30, 2024, 06:14:52 AM

Quote from: lixer on September 30, 2024, 05:21:41 AM

Quote from: passwordnow on September 29, 2024, 05:38:16 PM

What's sad with many of the newbie traders that I see is that they think copying others is going to be okay in the long run.

Yep, and now the Copy Trading option being available at most centralized exchanges makes this belief stronger among newbies. They believe they can do copy-trading for the rest of their lives and earn money without having to learn anything but they are wrong. You can't rely on other people all the time, even if you can, it will only be for a short term and you will eventually have to start doing your things yourself instead of relying on others for that.

As a trader, a person needs to understand everything. Not only as a trader, but in anything a person does, he must know what he is doing, otherwise, he wouldn't have any idea what is good and what is bad, and in this ignorance, they can lose a lot of money without even being able to understand how they lost the money.

An aspiring trader needs to learn that copy trading isn't the only way to earn in trading. But too many influencers nowadays that are bragging of their profits that they've taken through copy trading. I am not impressed because there's so much schemes that are rotating in the market that they are fooling people around and only shows the gains that they've made. Many are ignorant about this and they patronage those people because they think that they'll get a free "signal" from them.

I am not convinced as well with the results that they show. Well, I mean that I am not a good trader but fooling around others just to make your reputation clean and interesting to the others is already a disguise and a scheme waiting for destruction as soon as the preys bite the bait. Many are still uninformed about trading as if it's an easy thing to do and a source of money. But they're going to realize that when they started to lose money, got eaten by the market by bigger and better traders.

I do really have that kind of view that copy trading are really just that for those people who are lazy enough on learning up trading. Instead on doing some hard work and research they do rather choose up on making themselves that following someone and wont really be liking up on learning on their own and this is why i do consider them to be lazy. To those traders who had been followed then there would really be those who do really want to showcase out their trading skills. Getting some commisions or profits out of their followers then this might be something a new trend now but actually to those who do follow isnt something that they could be able to enhance up their trading skills. As for those people who are really that trying out to make use of a single trading strategy is something more better in compared into those people who do just simply
trying out to consider on following others. As for talking about being enough then this is something that cant really be concluded on which market does have different variations or conditions on which you would be
needing a specific set of strategies for you to test out on which one would really gonna work for you.

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Quote from: lixer on September 30, 2024, 05:21:41 AM

Quote from: passwordnow on September 29, 2024, 05:38:16 PM

What's sad with many of the newbie traders that I see is that they think copying others is going to be okay in the long run.

Yep, and now the Copy Trading option being available at most centralized exchanges makes this belief stronger among newbies. They believe they can do copy-trading for the rest of their lives and earn money without having to learn anything but they are wrong. You can't rely on other people all the time, even if you can, it will only be for a short term and you will eventually have to start doing your things yourself instead of relying on others for that.

As a trader, a person needs to understand everything. Not only as a trader, but in anything a person does, he must know what he is doing, otherwise, he wouldn't have any idea what is good and what is bad, and in this ignorance, they can lose a lot of money without even being able to understand how they lost the money.

Copy trading is a really effective solution for those who don't know about trading. With this strategy, a trader without sufficient knowledge will have the opportunity to earn, although there is an equal chance of losing. But it will be appropriate if a trader acquires sufficient knowledge from here and considers trading with his own knowledge and intelligence. Copy trading can be helpful for a beginner. But it would be foolish to rely on this strategy alone in the long run. It is best to trade based on your own skills and knowledge.

As a trader cannot apply all the trading strategies at once it is not possible to master them in a short period of time. But the trader must not rely on only one strategy to conduct trading. It is best if the trader learns about various trading strategies and can apply them as per need.

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Quote from: BITCOIN4X on September 29, 2024, 03:47:38 PM

Not always the same strategy will give you the same return in trading, while you may need to make some adjustments to increase your chances of getting profit. In some circumstances, your main trading strategy may still not produce anything and that is why you need to make some adjustments to combine it with other strategies.

The right strategy approach allows traders to get returns, but some other things also need to be considered including the right moment and time in trading. Analysis is also needed regardless of any strategy, so profits do not only depend on the strategy.

A same strategy is applied in different market phases, bullish and bearish, will bring different results like profit vs loss, big profit vs small profit, big loss vs small loss.

This is risk factor of trading in a volatile market that is always unpredictable. A trader can make predictions that sometimes are correct, sometimes are inaccurate. Because of your trading capital safety, you can not bet it with unknown accuracy of your prediction. Trading is addictive with chance of getting profit more quickly than investment and holding but it is more risky.

About timing the market, it is another risk because doing it precisely is very hard.

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Quote from: lixer on September 30, 2024, 05:21:41 AM

Quote from: passwordnow on September 29, 2024, 05:38:16 PM

What's sad with many of the newbie traders that I see is that they think copying others is going to be okay in the long run.

Yep, and now the Copy Trading option being available at most centralized exchanges makes this belief stronger among newbies. They believe they can do copy-trading for the rest of their lives and earn money without having to learn anything but they are wrong. You can't rely on other people all the time, even if you can, it will only be for a short term and you will eventually have to start doing your things yourself instead of relying on others for that.

As a trader, a person needs to understand everything. Not only as a trader, but in anything a person does, he must know what he is doing, otherwise, he wouldn't have any idea what is good and what is bad, and in this ignorance, they can lose a lot of money without even being able to understand how they lost the money.

An aspiring trader needs to learn that copy trading isn't the only way to earn in trading. But too many influencers nowadays that are bragging of their profits that they've taken through copy trading. I am not impressed because there's so much schemes that are rotating in the market that they are fooling people around and only shows the gains that they've made. Many are ignorant about this and they patronage those people because they think that they'll get a free "signal" from them.

I am not convinced as well with the results that they show. Well, I mean that I am not a good trader but fooling around others just to make your reputation clean and interesting to the others is already a disguise and a scheme waiting for destruction as soon as the preys bite the bait. Many are still uninformed about trading as if it's an easy thing to do and a source of money. But they're going to realize that when they started to lose money, got eaten by the market by bigger and better traders.

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Quote from: passwordnow on September 29, 2024, 05:38:16 PM

What's sad with many of the newbie traders that I see is that they think copying others is going to be okay in the long run.

Yep, and now the Copy Trading option being available at most centralized exchanges makes this belief stronger among newbies. They believe they can do copy-trading for the rest of their lives and earn money without having to learn anything but they are wrong. You can't rely on other people all the time, even if you can, it will only be for a short term and you will eventually have to start doing your things yourself instead of relying on others for that.

As a trader, a person needs to understand everything. Not only as a trader, but in anything a person does, he must know what he is doing, otherwise, he wouldn't have any idea what is good and what is bad, and in this ignorance, they can lose a lot of money without even being able to understand how they lost the money.

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Quote from: aylabadia05 on September 29, 2024, 04:50:41 PM

Don't assume that all traders have the same abilities, most traders who we don't know are still likely to make big profits with their trading approach. Even on newly listed meme coins or altcoins, they can still make profits although this method cannot be recommended for beginners.

Yes, those are still traders even if they only trade during the hype that's being made from meme coins or altcoins that are just recently listed. That's actually a strategy that anyone can rely on. Being on the hype while it's still fresh, you can make money from it short term. It only takes capital and bravery to take that risk because not everyone that follows that strategy are earning. There's still a lot of risk that comes from there if someone will do the same what others have made them profitable.

Quote from: aylabadia05 on September 29, 2024, 04:50:41 PM

Experienced and knowledgeable traders can always develop their trading skills and they can have a good plan for it. So I never think they are wrong in choosing trading pairs as long as they are able to do it and accept all the consequences.

The sad truth is that not all traders are aware of the consequences that they'll take specially the new ones. Like this comparison for pro and new traders;

What's sad with many of the newbie traders that I see is that they think copying others is going to be okay in the long run.

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Quote from: Perfectbaby on September 29, 2024, 09:38:41 AM

Quote from: Rruchi man on July 28, 2024, 06:36:04 PM

I agreed to your opinion because having different trading pairs can put someone in a tight angle were it will be too hard for him or them to followup the trade as the market is waving, although this can depends on individuals because professional traders can have about more trading pairs, what I won't encourage is to trade on a newly launched altcoin as a newbies because they wouldn't know how to control and handle the market forces.

Don't assume that all traders have the same abilities, most traders who we don't know are still likely to make big profits with their trading approach. Even on newly listed meme coins or altcoins, they can still make profits although this method cannot be recommended for beginners.

Experienced and knowledgeable traders can always develop their trading skills and they can have a good plan for it. So I never think they are wrong in choosing trading pairs as long as they are able to do it and accept all the consequences.

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Quote from: BITCOIN4X on September 29, 2024, 03:47:38 PM

The right strategy approach allows traders to get returns, but some other things also need to be considered including the right moment and time in trading. Analysis is also needed regardless of any strategy, so profits do not only depend on the strategy.

Your strategy is just one part of the pie for you to have a profitable trade as without timing the market correctly or reading the market very well to interpret it in the right way, you're still going to lose. You can master one trading strategy that works for you before but still that strategy can fail you when others things aren't in the right places. Trading needs constant improvement therefore we should never be stuck in the Idea that we can use only one strategy to make it in trading without trying other things out. Traders are meant to have backup options and be adoptable in all market situations. Mastering one strategy is good but don't just stop there, have other options Incase of emergency.

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Quote from: hyudien on September 29, 2024, 10:28:52 AM

Quote from: TheUltraElite on September 29, 2024, 03:55:16 AM

The buy low and sell high strategy works in most of the places. As long as you keep your limited to the niche of spot trading and dont expose yourself to the risks of leverage/margin and all those things, you should be good. The next important thing is being consistent in following your method. Although there is no guarantee, you will make money in safe manner.

The methods other than spot trading are all in favor of the exchange and they are more of gambling than trading. It is better to avoid those and choose spot trading in which long term is the preferred choice over day trading.

Actually there is a little difference of opinion between us about trading other than spot, although I also agree that it leads to gambling with the note that it is done by people who are not knowledgeable, or they just guess in making trades, if they do it with knowledge then it is not like gambling in my opinion.
I agree with you that spot is a safer place than the others, although it will also be safe if we enter the right coins, especially bitcoin or coins that are already very trusted. Because we will not lose money or lose as long as we still hold the coin, even if the price drops very far, it only takes patience for us to return capital and achieve profit. But once again this must also be on safe coins, the top recommendation is bitcoin.

True, basically trading is a very difficult activity to do, because there are so many things that a trader must prepare, there is one ability that is not taught in theory and that is the most difficult which is having a strong mentality and psychology, the reason is because you will only be able to have this ability when you have passed the adaptation stage with a number of losses that you experience due to the fierce market fluctuations in an unspecified period of time. This is one of the things that is very difficult to learn, but it is very important for a trader to have because it leads to risk management and also helps prevent a trader from being hesitant every time they want to make a decision.

The point is that trading is an activity that is not easy to do, everyone has the same opportunity but not infrequently those who end up with many losses due to treating trading like gambling due to lack of knowledge due to desperation in learning difficult things, this is something that must be considered before you jump in, if you feel unable to do it then it is clearly better to make the spot market an option, because it is the safest, like the bitcoin you recommend.

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Quote from: Antonil on September 29, 2024, 11:21:37 AM

Quote from: Rruchi man on July 28, 2024, 06:36:04 PM

~Snip

"Your observations are really valuable. Consistency and focus on strategy is vital to a trader's success. It's very common for new traders to get confused by multiple strategies, so it's wise to stick with a specific strategy that will work over time. Thanks for sharing your thoughts!

Not always the same strategy will give you the same return in trading, while you may need to make some adjustments to increase your chances of getting profit. In some circumstances, your main trading strategy may still not produce anything and that is why you need to make some adjustments to combine it with other strategies.

The right strategy approach allows traders to get returns, but some other things also need to be considered including the right moment and time in trading. Analysis is also needed regardless of any strategy, so profits do not only depend on the strategy.

Antonil

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Quote from: Rruchi man on July 28, 2024, 06:36:04 PM

From my observation of some older traders who are consistently profitable in the market, I have observed that they usually are very consistent with their strategy or approach to the market.

Just as starting to trade on one pair first is important for a beginner trader, it is also necessary for a new trader to know that the easiest way to become confused is to try to learn different trading strategies from different traders or sources at once.

One trading strategy is enough to make you successful until it is no longer working.

"Your observations are really valuable. Consistency and focus on strategy is vital to a trader's success. It's very common for new traders to get confused by multiple strategies, so it's wise to stick with a specific strategy that will work over time. Thanks for sharing your thoughts!

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Quote from: TheUltraElite on September 29, 2024, 03:55:16 AM

Quote from: dunfida on August 21, 2024, 10:45:07 AM

You would be able to find it for yourself on the time that you would be facing up different conditions or situations when you do make trading. You would be able to find out that one strategy wont fit out for all on which means that you would really be needing up to adjust basing up on the market and just like the rest been saying then you would be needing up something else or another strategy.

The buy low and sell high strategy works in most of the places. As long as you keep your limited to the niche of spot trading and dont expose yourself to the risks of leverage/margin and all those things, you should be good. The next important thing is being consistent in following your method. Although there is no guarantee, you will make money in safe manner.

The methods other than spot trading are all in favor of the exchange and they are more of gambling than trading. It is better to avoid those and choose spot trading in which long term is the preferred choice over day trading.

Actually there is a little difference of opinion between us about trading other than spot, although I also agree that it leads to gambling with the note that it is done by people who are not knowledgeable, or they just guess in making trades, if they do it with knowledge then it is not like gambling in my opinion.
I agree with you that spot is a safer place than the others, although it will also be safe if we enter the right coins, especially bitcoin or coins that are already very trusted. Because we will not lose money or lose as long as we still hold the coin, even if the price drops very far, it only takes patience for us to return capital and achieve profit. But once again this must also be on safe coins, the top recommendation is bitcoin.

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Quote from: Rruchi man on July 28, 2024, 06:36:04 PM

From my observation of some older traders who are consistently profitable in the market, I have observed that they usually are very consistent with their strategy or approach to the market.

Just as starting to trade on one pair first is important for a beginner trader, it is also necessary for a new trader to know that the easiest way to become confused is to try to learn different trading strategies from different traders or sources at once.

One trading strategy is enough to make you successful until it is no longer working.

I agreed to your opinion because having different trading pairs can put someone in a tight angle were it will be too hard for him or them to followup the trade as the market is waving, although this can depends on individuals because professional traders can have about more trading pairs, what I won't encourage is to trade on a newly launched altcoin as a newbies because they wouldn't know how to control and handle the market forces.

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Quote from: stomachgrowls on September 29, 2024, 07:25:06 AM

Somehow sticking into one strategy on which you could really be able to make yourself mastered then it will really be something that you are really that good at. It doesnt matter on how many times you do fail, it is really that on how good you are on sustaining yourself into this unpredictable market on which this is something matter the most.

We only can know a good trading strategy after testing many strategies through a long time. It's very challenging and hopefully after testing many strategies, a trader will survive and have capital for trading. Many amateur traders begin their trading career with lot of hope but finally they broke and their lives become harder, not better and more comfortable with trading.

Market is always itself and if you can not trade well, you lose money and the market can move on but if you lose all money, it's hard for you to move on well.

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Quote from: TheUltraElite on September 29, 2024, 03:55:16 AM

Quote from: dunfida on August 21, 2024, 10:45:07 AM

You would be able to find it for yourself on the time that you would be facing up different conditions or situations when you do make trading. You would be able to find out that one strategy wont fit out for all on which means that you would really be needing up to adjust basing up on the market and just like the rest been saying then you would be needing up something else or another strategy.

The buy low and sell high strategy works in most of the places. As long as you keep your limited to the niche of spot trading and dont expose yourself to the risks of leverage/margin and all those things, you should be good. The next important thing is being consistent in following your method. Although there is no guarantee, you will make money in safe manner.

The methods other than spot trading are all in favor of the exchange and they are more of gambling than trading. It is better to avoid those and choose spot trading in which long term is the preferred choice over day trading.

There's no guarantee and we do all know it and i dont really see it for it to be safe on saying that we are on a safe manner. Just like on what been said or mentioned that there's no way that we could be able to
make a single strategy to work all the time on which we know that market does have that different variance or conditions on which it could make our strategy wont be able to work. I do agree into those words above
that this will really be a trial and error thing. It will really be that impossible that you wont really be able notice it out that different market conditions will lead to different kind of strategy.

Somehow sticking into one strategy on which you could really be able to make yourself mastered then it will really be something that you are really that good at. It doesnt matter on how
many times you do fail, it is really that on how good you are on sustaining yourself into this unpredictable market on which this is something matter the most.

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Quote from: TheUltraElite on September 29, 2024, 03:55:16 AM

The buy low and sell high strategy works in most of the places.

It's a principle all traders need to do but in practice, most of traders do oppositely and they get loss, not profit.

Quote

As long as you keep your limited to the niche of spot trading and dont expose yourself to the risks of leverage/margin and all those things, you should be good.

Spot trading is a best trading type for traders in risk management. Leverages in Margin and Futures trading types are more risky and traders will lose money more intensively if they use Margin or Futures trading types.

Quote

The next important thing is being consistent in following your method. Although there is no guarantee, you will make money in safe manner.

The methods other than spot trading are all in favor of the exchange and they are more of gambling than trading. It is better to avoid those and choose spot trading in which long term is the preferred choice over day trading.

Learn enough about trading first, practice with as best discipline as possible together with a good trading strategy. It must be safe trading strategy with management of cutting loss to protect trading capital. No traders can open good trading positions at 100% so using a cut loss order is important.

Stop loss order is one of best weapons in trading.

Topic: One trading strategy is enough. - page 3. (Read 1833 times)